PHOENIX, March 01, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Lithium Exploration Group (USOTC:LEXG) announced today that its partners in the White Top project are making great progress on the preparations to close on the ultimate acquisition of the field and development strategy. The seismic data has been fully processed and continues to impress all parties that have looked at it. The in-house geophysical team is drilling down on a series of shallow fault blocks that are visible in the data set and comparing them to historical production in order to finalize the development prioritization schedule. The team at White Top is working tirelessly to complete the environmental and legal diligence to close on the transaction and we are very excited about the progress being made.
“The seismic shoot was a long and tedious project, but we have always had confidence in the project and the team we’ve assembled to execute on their strategy. Our royalty associated with their development will be a huge step for LEXG because it has the potential to underwrite all of our expenses as well as generate a profit for the company,” commented CEO Alex Walsh. “It will be very exciting to start the preparation of our year-end financial statements in June with the consolidation of cash flow into the company and eliminating the necessity for outside financing.”
About Lithium Exploration Group
Lithium Exploration Group is a US-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused sales and distribution of the Sonic Cavitation Ltd. technology and the acquisition of oil and gas related assets in the US and Canada. Lithium Exploration Group is traded on the OTC Markets under the symbol LEXG.
Website: www.lithiumexplorationgroup.com.
Safe Harbor Statement
This news release contains "forward-looking statements". Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future testing of the ultrasonic technology.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact Info
Shanon Chilson
480-641-4790
info@lithiumexplorationgroup.com